Australian Capital Territory Numbered Acts

TERRITORY OWNED CORPORATIONS (NO. 72 OF 1999) - SECT 8

    Schedule 3 is amended—

        (a)     by omitting clause 2 of Part 1; and

        (b)     by omitting from clause 1 of Part 2 “3 other shares” and substituting “such other shares as the company may issue”; and

        (c)     by inserting after clause 1 of Part 2 the following clause:

    “1A.     The company may issue a non-voting share or a right relating to a non-voting share only if the Treasurer has agreed in writing to the issue.”; and

        (d)     by adding at the end of Part 2 the following clauses:

    “6.     The company must register a transfer of a voting share or a right relating to a voting share that is signed by the Chief Minister on behalf of the transferor and is accompanied by a declaration by the Chief Minister that the signature of the holder of the share or right cannot readily be obtained.

    “7.     The company must register a transfer of a non-voting share or a right relating to a non-voting share that is signed by the Treasurer on behalf of the transferor and is accompanied by a declaration by the Treasurer that the signature of the holder of the share or right cannot readily be obtained.

    “8.     The company may only register a transfer of a share or a right if the transfer has been made under a direction under section 13 of the Territory Owned Corporations Act 1990 or under a provision required to be included in the constitution of the company by clause 6 or 7.”.